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Coinbase announced today that it is ceasing all XRP deals on its cryptocurrency exchange, according to an official blog post (via Coindesk) Certain types of business were restricted today, and full suspension will begin on Jan. Going into effect on January 1st, 2021 at 10:00 a.m. (local time) Coinbase is the largest cryptocurrency exchange, and the suspension of a currency like XRP naturally raises doubts about the currency’s future even before the SEC lawsuit is settled

Coinbase said it made the decision to suspend XRP “in light” of the lawsuit the SEC filed against XRP’s original creator, Ripple, with the suspension no longer allowing users to trade XRP on Coinbase although they are still able to deposit and withdraw from XRP wallets

In the lawsuit that started it all, the SEC’s primary concern is what an XRP actually is, and the SEC claims that XRP is a security and should be treated as such, which means that the former and current CEO of Ripple for the Should be responsible for disclosing a number of additional information necessary to access the risks of XRP before investing Ripple, of course, believes the opposite. Ripple believes that XRP is a currency and therefore does not fall under the jurisdiction of the SEC. why it is important what XRP is called can be found in the article by my colleague Liz Lopatto

Coinbase is the highest profile exchange to expose XRP, but other exchanges like Bitstamp and OK Coin have made similar decisions following legal action taken by the SEC with the simple announcement of a lawsuit, the SEC has already affected the near-term future of XRP

XRP

World news – USA – Coinbase stops trading in XRP after SEC lawsuit against Ripple

Source: https://www.theverge.com/2020/12/28/22203761/coinbase-halts-trading-xrp-ripple-sec-suit